Goldstrike Confirms Large Drill Target at Plateau Gold Dome

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2014) -Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) is pleased to report that a three- dimensional induced polarization (IP) survey has outlined a large, well defined chargeability anomaly with strong gold potential near discovery hole PSVG13-03, which intersected 7.60 grams per tonne gold over 9.03 metres (News Release September 9, 2013). This anomaly underlying Gold Dome is interpreted to represent disseminated mineralization similar to that associated with bonanza grade gold found in surface grab samples and drill core. The core of the anomaly measures approximately 200 metres by 100 metres, and extends from about 100 metres below surface to 200 metres depth (the survey limit). It is indicated to be open to the southeast and to depth and remains to be drill tested.

The shallowest part of the IP anomaly on Gold Dome is located immediately east of the VG zone, which means that the 2013 drilling, which intersected high grade gold mineralization, did not test the anomaly. An initial projection of IP data to surface suggests the inferred mineralized body strikes northwest- southeast and may have a northwest or southeast plunge, consistent with major folds that are now believed to be a major control on the distribution of gold across the entire property, including the Goldstack zone, where hole PSGS13-04 intersected 2.28 grams per tonne gold over 53.0 metres, including 10.91 grams per tonne gold over 10.0 metres (News Release September 9, 2013). Given the success of this high resolution IP survey in outlining disseminated mineralization in the highly silicified felsic volcanic host rocks on Gold Dome, Goldstrike is planning additional high resolution ground IP surveys to outline similar drill targets in numerous other areas on the property where bonanza-grade gold mineralization up to 308.49 grams per tonne (News Release June 23, 2014) has been found, including the Goldstack zone, the 11-kilometre long Goldbank trend, the two kilometre long Ron Stack trend, and the two kilometre long Gold Rush zone.

Geochemical and textural evidence indicates that high grade gold mineralization on Gold Dome is the upper part of a single, district-scale gold system that is exposed on the property over a strike length of 25 kilometres, and a vertical extent of 1,000 metres that remains open. The Gold Dome mineralization is associated with extensive silicification, alunite and sericite spectral signatures, significant strong correlations of gold with mercury, selenium, thallium, and vanadium, and typically epithermal textures including silica flooding, comb-textured quartz, and numerous crystal-lined vugs. Arsenic, tellurium, and sodium are dominant gold pathfinders along the main Yellow Giant Trend. In addition, base metals are associated with gold along the Ron Stack trend, where coarse pyroclastics indicate proximity to a volcanic source, indicating a deeper, more mesothermal environment. The Goldstack zone also appears to represent a deeper part of the system, where gold correlates strongly with silver and antimony, moderately with arsenic, tungsten, bismuth, and lead, and negatively with thallium. Mapping and petrography show that the Goldstack mineralization is hosted in hydrothermal breccia zones, within a subvolcanic porphyry that forms part of the same volcanic system that is believed to be the ultimate source of the gold mineralization in the area. The Gold Rush zone north of the Hess River has a different suite of geochemical pathfinders that reflect a distal, low-temperature environment and sedimentary host rocks. Gold in all the zones appears to have been re-concentrated in the axial regions of large folds that formed during the same phase of regional deformation.

"We are very pleased to have identified such a compelling target in the Gold Dome area," said Goldstrike's Chief Geologist, Trevor Bremner. "The geophysicists have stated that the quality of the data is excellent due to the high resistivity of the rock, which made for very clean readings. We look forward to drill-testing this anomaly at the earliest opportunity. Goldstrike's technical team believes that IP is an excellent tool to outline similar drill targets in the Goldstack, Goldbank, Ron Stack, and Gold Rush zones."

Results from Goldstrike's 2014 exploration program on the Lucky Strike property in the White River gold district are expected in the near future.

Sample analysis and assaying for all of Goldstrike's projects have been conducted by Acme Analytical Laboratories Ltd in Vancouver, BC, which is ISO 9001 accredited. Soil samples are dried at 60C, and 100 grams is sieved to -80 mesh. A 15 gram sample split is then leached in aqua regia at 95 degrees C, and analyzed by a 36-element ICP package that includes semi-quantitative gold. Rock samples are crushed to 80% -10 mesh, and a 250 gram sample split is pulverized to 85% -200 mesh. 30 gram charges are then assayed for gold using fire assay fusion and ICP-ES finish with a lower detection limit of 2 ppb, and an upper detection limit of 10 ppm Au. In addition, 0.5 mg charges are digested by modified 1:1:1 aqua regia (HCl-HNO3-H20) and analyzed by 36-element ICP-MS that also includes semi-quantitative gold with a lower detection limit of 0.5 ppb Au and an upper detection limit of 100 ppm Au. All samples containing visible gold or returning assays of more than 10 ppm gold are subjected to metallic fire assays, for which the plus fraction is finished gravimetrically and the minus fraction is finished with AA. Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.

Note: Grab samples are selective by nature, and are unlikely to represent average grades on the property.

Trevor J. Bremner, P. Geo., Chief Geologist and Goldstrike Board Member, is a qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements.

To view the figures accompanying this press release, please visit the following link:

More articles about

Newswire Distribution Network & Management

About Us

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.